CHFUSD trade ideas
USDCHF: Correction Completed? Potential Short Setup AheaUSDCHF appears to have completed a five-wave decline, followed by a three-wave corrective structure in the form of a Zigzag (ABC) upward. This pattern aligns with Elliott Wave principles, suggesting that the correction may be coming to an end, paving the way for the next downward movement.
Key confirmation for further decline will come if the price fails to break above wave B and instead breaks below the 0.90311 level. A clean breakdown of this level would indicate that the correction is complete, and the next impulsive wave downward is in progress.
However, if the price consolidates above this level or starts forming a more complex corrective structure, we may need to consider an alternative scenario, such as an extended correction or even a larger-degree wave formation.
Should watch for strong bearish price action and increased momentum before entering short positions.
USDCHF Wave Analysis 29 January 2025
- USDCHF reversed from round support level 0.9000
- Likely to rise to resistance level 0.9100
USDCHF currency pair recently reversed up from the round support level 0.9000 (which has been reversing the price from the end of December) intersecting with the lower daily Bollinger Band.
The support level 0.9000 was further strengthened by the support trendline of the daily up channel from September and the 38.2% Fibonacci correction of the upward impulse from December.
Given the clear daily uptrend, USDCHF can be expected to rise further to the next resistance level 0.9100 (which reversed the pair earlier this month).
USDCHFPrice slightly missed my initial Daily long entry. So I bought at the retest of the 4hour support level.
FA: With Trump still positive on tariffs and inflation still a concern to the FED with FOMC decisions and Statements to be out soon the market expects hawkish statement from the FED chair today.... we could be surprised
THOUGHTS ON USD/CHFUSD/CHF 4H - As you can see price has traded down and into a large area of inefficiency and then traded us higher, this I now believe has given price enough Demand to encourage a higher timeframe correction.
So with that being said, I think we may see price trade lower initially to clear any remaining liquidity to the downside before actually pushing up and continuing this correction.
I have marked out an area I feel price will reverse from setting its new Lower High within this new higher timeframe bearish structure. This is where we could look to place further shorts from.
To back this higher timeframe bias you can see I have gone ahead and marked out a large break in structure to the downside after the penetration of a Supply Zone, giving us that additional confluence.
Update USDCHF Swing trade 29/01/2025USDCHF remains a slow mover but is currently retesting the key 0.90410 level after breaking below it.
A solid 4H close beneath this level would confirm a sell setup for me, with 0.89200 as the first take profit target.
Patience is key here—waiting for proper confirmation before entering. Keeping a close watch on how price reacts at this level.
USDCHF - Short after filling the imbalance !!Hello traders!
‼️ This is my perspective on USDCHF.
Technical analysis: Here we are in a bearish market structure from 4H timeframe perspective, so I look for a short. I expect price to continue the retracement to fill that huge imbalance and then to reject from bearish OB.
Fundamental news: On Wednesday (GMT+2) we will see results of Interest Rate in USA, news with high impact on currency.
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USDCHF 1D Bullish Trend against Weekly ResistanceOANDA:USDCHF
📶 Technical Analysis
Weekly (1W) Chart:
In 2023 and 2024, USDCHF formed a strong support level around 0.8400 and a strong resistance level around 0.9200.
As of January 2025, the price has tested the 0.9200 resistance level again, suggesting a potential battle around this key level.
Daily (1D) Chart:
Aug - Sep 2024: The 0.8400 support was tested multiple times, holding strong, and the price reversed, forming a bullish trend from October 2024 until now.
January 2025: The price tested the strong resistance at 0.9200, and we can now see a clear correction towards the trendline and the middle support level around 0.9000.
🔤 Overall Outlook:
🟢 Long Position: Be cautious near the weekly resistance at 0.9200, as there could be a strong pullback and higher volatility, making it riskier for a long trade.
🔴 Short Position: Consider waiting for a trend breakout below the current correction bottom, or a formation of a new lower low below 0.8950 to confirm further downside.
The bullish trend continues on the daily chart, but the price is approaching a strong resistance level at 0.9200.
Fundamental analysis is necessary to assess the economic factors and expectations that may drive the price in either direction. Without clear fundamental drivers, the technical picture remains uncertain for now.
Currently, there’s no clear setup for my trading strategy, as the price is near a strong resistance and requires confirmation through either a breakout or pullback to make further decisions.
Bearish drop?USD/CHF is rising towards the resistance level which is an overlap resistance that is slightly above the 61.8% Fibonacci retracement and could drop from this level to our tke profit.
Entry: 0.9091
Why we like it:
There is an overlap resistance level that is slightly above the 61.8% Fibonacci retracement.
Stop loss: 0.9137
Why we like it:
There is a pullback resistance level that aligns with the 71% Fibonacci retracement.
Take profit: 0.9007
Why we like it:
There is an overlap support level.
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USD/CHF POTENTIAL SETUPUSD/CHF 15M - I am also looking to short this market, as we know its a bearish market on the higher timeframes and recently price has been pulling back to clear the inefficient structure.
Price has gone and traded into a clear Order Block here on the 15M and we have seen price begin distributing, putting in this ranging data, this usually suggests a prep to move to the downside.
In order for me to seek full validation to short this market we want to see a break in the last protected low within the bullish structure that the corrective wave has put in, I have gone ahead and marked that out.
But for those who want a more aggressive approach we could look to enter in sooner with price respecting areas of Supply and clearing liquidity to the upside, I will go ahead and post a potential entry that is more aggressive whilst keeping our parameters in check.